Dentify the basic provisions of the Sarbanes-Oxley Act that Essay

Dentify the basic provisions of the Sarbanes-Oxley Act that specifically deal with ethics and Independence and research how this Act has affected auditors since it was established in 2002 - Essay Example An example is the collapse of Enron. Unethical conduct on the part of Corporate CEOs and Audit Firms was responsible (Rezzy, 2007). To avoid a repeat of the same, the Sarbanes-Oxley Act was passed to instill ethics and instigate independence auditors. The essay covers specific provisions of the statute intended to promote ethics and independence to demonstrate how the act has affected auditors. Section 101 created the Public Company Accounting Oversight Board as an independent body with the onus to monitor and regulate the activities of auditors (Freeman, 2009). The board has since ensured that auditors comply with the provisions of the legislation as well as comply with the code of ethics for persons in the auditing business. Since the introduction of the Board, it is believed that audit malpractice has reduced due to the stiffer penalties that threaten implicated firms as a result of the Board’s investigations according to Romano (Romano, 2005). Title III from section 301 to 308 endeavors to promote ethics by obligating company executives to be personally responsible for the financial reports of the corporate, whether quarterly, semi-annually or annually. To avoid malpractice, CEOs and other chief management staff are required to inspect and pass as accurate the financial statements of the company before they are released. This in turn makes the officers personally liable if any misstatements are made that could be misleading as to the financial soundness of the company. Green states that any officer required to append signature on a financial report must only do so after doing due diligence using their knowledge to make sure that everything stated therein is true to avoid personal liability (Green, 2004). This has had the effect of reducing fraud as corporate executives struggle to ensure that financial reports are as accurate as

MD3 Assignment 1 Essay Example | Topics and Well Written Essays - 250 words

MD3 Assignment 1 - Essay Example He is audible and this is proved by the fact that the audience respond to the speech by clapping and cheering when he talks about an important point. He maintains eye contact with the audience during the speech, and pauses he makes while delivering his speech and his vocal expressions are excellent. He makes use of gestures and facial expressions to deliver his message of pain that he feels because of the discrimination directed to the black society. His introduction is excellent as he explains the main points he is going to deliver during the speech, which is discrimination against the black people. His main points are easily identifiable as he raises his tone while delivering the main points of his discussion and pauses to get a reaction of the audience. The speech is properly organized as it starts with the main idea then it is followed by complaints or the current situation and finally ends with what has to be done to ensure that all prejudice against the black people is eliminated in the American society. He uses supportive evidence by naming states where racism has been practiced and concludes that he has a dream that one day everyone will be able to work together as brothers irrespective of skin color. It is evident that the speech is received well by the audience since they respond by cheering and clapping throughout the speech. By doing this exercise I have learnt that a speech has to be arranged chronologically and presented in a way that the audiences are able to digest the message being passed. I have learnt that the speed of delivering a speech needs to be at a rate that the audience will be able to relate and join in so that delivery is